Kunst Auktion 28. - 30. November 2022, Germann Auktionshaus, Zürich

Conditions of Sale by Auction
1. By participating in the sale, the bidder fully accepts the following Auction
Conditions of Germann Auction House Ltd.
The hammer price is determined by the bidder recognised by the auctioneer
as having made the highest bid in Swiss Francs resulting in the conclusion
of a purchase contract between the seller and the purchaser. Seller
shall not bid for their own lots.
2. A currency converter may be operated at some auctions but only for the
guidance of bidders. Germann Auction House Ltd. will not accept any responsibility
in case of error on the part of the currency converter, either in
foreign currency of bids or in Swiss Francs or otherwise.
3. Every purchaser is personally responsible for his bids. Objections on the
grounds of having bought on behalf of a third party are not accepted. The
bidder remains bound by it until either a higher price is offered or the auctioneer
refuses it. The auctioneer reserves the right to refuse or cancel the
sale, interrupt or cancel the auction procedure, withdraw the item or reoffer
and resell the item. Title and risk pass to the buyer on acceptance of the
bid by the auctioneer. The auctioneer may initiate the auctioning of an item
below the reserve price agreed upon with the seller. Works of art may be
knocked down without having been sold or withdrawn, without being apparent
prior to the end of the auction. Invoices are payable within 10 days
after the auction. Compensation is excluded.
4. Any party may participate in an auction as a bidder. However, Germann
Auction House Ltd. has absolute discretion to refuse admission to the
auction.
5. New: Bidders, previously unknown to Germann Auction House Ltd. must
register at least 24 hours before the auction, a copy of the valid bidder’s
passport or identity card must be enclosed. Germann Auction House Ltd.
may ask a prospective buyer to supply financial references.
6. New: Personal participation in the auction room is only possible with prior
registration.
7. Absentee bids or bids by telephone from prospective buyers who cannot
attend the sale are accepted in writing up to 24 hours before the sale begins.
Telephone bidders accept that the phone calls may be recorded.
Written and telephone bids are offered as an additional service at no extra
charge and at the buyer’s risk. Germann Auction House Ltd. cannot accept
liability for failure to place such bids.
8. All buyers shall pay a premium on the hammer price for each lot calculated
as follows:
For a hammer price up to CHF 10’000: 25%
For a hammer price above CHF 10’000 up to CHF 400’000:
25% on the first CHF 10’000
20% on the difference between CHF 10’000 up to CHF 400’000
For a hammer price above CHF 400’000:
25% on the first CHF 10’000
20% on the difference between CHF 10’000 up to CHF 400’000
15% on the difference between CHF 400’000 up to the hammer price.
9. An additional premium of 3 % will be added to the hammer price if the
winning bid is placed in the course of a Live-Online- Auction. Bidders are
subject to the terms and conditions of Germann Auctions House Ltd. as
listed on the «Live Auction Website», which may differ in some respects
from those listed here.
10. The above mentioned buyer’s premium is subject to the Swiss VAT, which
is to be paid by the buyer.
For lots marked with asterisk (*) both, the price at which the object has
been knocked down and the buyer’s premium are subject to the Swiss VAT.
11. After an export declaration duly signed by the Swiss customs authorities
has been received, Germann Auction House Ltd. will refund the Swiss VAT
to foreign buyers, provided that the sum exceeds CHF 50.
12. All objects are put up for auction on behalf of and on the account of third
parties. The buyer shall not have the right to be informed of the seller’s
name or his commission.
13. The buyer must take possession of the objects in the condition in which
they are at the time of being knocked down to him. During the preview
exhibition the objects are open to inspection. They are described to the
best of our knowledge, but Germann Auction House Ltd. and the auctioneer
cannot be held responsible for the information given in the catalogue.
Guarantee of defects of any kind, both physical and legal, is excluded
explicitly. Any written or oral comments are statements of opinion, which
may be revised at any time and are not warranties, guarantees, conditions
or the like.
14. If, within one year from the date of auction of an object, the buyer informs
Germann Auction House Ltd. in writing that the said object is a willful imitation
and returns said object in the same conditions in which it was
knocked down to him, and in fact it turns out to be a willful imitation, with
respect to its description in the catalogue, the auctioneer will cancel the
sale.
15. The proof of willful imitation is to be supplied by the buyer. Any copy which
was produced with intent to deceive, either with respect to its maker, origin,
date, epoch, cultural area or source, without this appearing from the text
of the catalogue, and which was worth less at the sale than it would have
been if the object had matched its description, is considered a willful
imitation. An item shall not be deemed to have been forged if it is merely
damaged or has been subjected to restoration or modifications of any
nature whatsoever.
16. The following restrictions shall apply, however. The object can not be returned:
– if the description in the catalogue was made in keeping with the level of
research or according to the opinion of the majority of experts at the time
when the catalogue was being compiled; or
– if, in keeping with the level of research, the imitation was not to be qualified
as such at the time the catalogue was being compiled.
The object can only be returned by the buyer in whose name the invoice
is issued.
17. The purchase will be released after receiving the buyer’s full payment of the
hammer price, premium and, if applicable the taxes. After 10 days from the
auction, the buyer is fully liable for the loss, theft, damage or destruction
of the acquired items. Germann Auction House Ltd. ceases to have liability
after the said period.
You may pay for your purchase immediately after the auction by going to
the Cashiers or an invoice will be mailed to you following the sale.
The object acquired must be picked up at the close of the auction or within
10 days thereafter at the risk and expenses of the buyer. After that, the
objects will be stored at the risk and expenses of the buyer.
The daily rate is CHF 10 per object. The buyer is fully liable for the loss,
theft, damage or destruction of the acquired items. Germann Auction
ceases to have liability after the said period.
18. Payment by credit card is not accepted. Late payments are due to a penalty
of 1% interest per calendar month.
19. If a buyer fails to pay at all or does not in due time, Germann Auction House
Ltd. is entitled to either ask for performance of the terms of the sales contract
or to cancel the sale of the lot without notice. A buyer who does not
abide by the conditions outlined above, is liable to pay damages.
These may include a loss incurred by auctioning off the object a second
time as well as the commission and expenses due for both sales. Germann
Auction House Ltd. stipulates having the right of retention and a lien over
any of the buyer’s property which is in the possession of Germann Auction
House Ltd. for any reason until payment of all outstanding amounts due.
Germann Auction House Ltd. may resell those goods by auction or private
sale, with estimates and reserves at Germann Auction House Ltd.’s discretion.
If such resale is for less than the amount due the buyer will remain liable
for the shortfall together with all costs incurred during such resale.
The buyer whose allocation has been cancelled shall have no right to raise
a claim on the possible sum in excess of the former price. In addition, articles
213.ff. and following as well as 102.ff. and following of the Swiss
Code of Obligations shall apply. In case the object has been picked up by
the buyer before paying the full amount of the invoice, Germann Auction
House Ltd. or the seller is authorized to rescind the contract and ask for
the object to be returned.
20. On demand, Germann Auction House Ltd. assists with shipping and insurance
arrangements, but declines all liability resulting from such acts. If the
buyer fails to pay and collect the purchased lot within 10 days after the
auction, the objects will be stored at the buyer’s expense and entire risk
either at Germann Auction House Ltd. premises or with a third party and
will be subject to a handling fee and charges for storage.
21. The conditions stated above are an integral part of every purchase contract
concluded at the auction. Modifications thereof are valid only if agreed
upon in writing. Should any provision of these Conditions of Sale be held
unenforceable for any reason, the remaining provisions shall remain in full
force.
22. The Canton and the Borough of Zurich bear no legal responsibility whatever
in connection with the sale. The Official, delegated by the City of
Zurich, acts in a purely supervisory capacity. The relationship between the
parties to the contract is governed by Swiss law in all respects.
Deliveries are due at Zurich 2, which is also the place of jurisdiction.
The right of recourse to the Swiss Federal Court is reserved.
23. The original text in German is binding.
Updated: May 2022